COE Results Sep 2023 2nd Bidding: Still climbing upwards

The second round of bidding for September continued to see Certificate of Entitlement (COE) premiums climbing cross all categories. This latest jump in premiums sees both Cat B and E now close to the $150,000 mark.

The host of roadshows from dealers including Eurokars EV Pte Ltd and Borneo Motors over the past weekend could have spurred up new car buying interest here in Singapore, explaining the jump in premiums this session. This could also explain the rise in the total number of bids received across Cat A, B, and E.

Get data on past COE bidding exercises at our COE bidding results page.

Cat A COE - Going strong this session

Premiums for Cat A, for cars up to 1,600cc in engine capacity and with an output of no more than 130bhp, or electric vehicles with a power output of up to 110kW, rose by a total of $4,000 (4.0%) this session to hit $105,000.

This new climb takes premiums for the category to 14.5% above the 12-month trailing average. The total number of bids submitted this session exceeded the number of successful bids this round by 33%, lower than the 12-month average of 38% for the category.

Cat B - A $6,000 rise this session

Premiums for Cat B, for larger cars with more than 130bhp or engine displacements larger than 1,600cc, or electric vehicles with a power output of more than 110kW, also climbed this session. Premiums for the category climbed by a total of $6,000 (4.5%) this session, to reach a total of $140,889.Premiums for Cat C, for goods vehicles and buses, climbed this session by $88 (0.1%) to close at $82,889. The number of unsuccessful bids this round exceeded the available quota by 58%, lower than the 12-month average for this category of 110%.

This climb takes premiums for the category to 22.6% above the 12-month trailing average. The total number of unsuccessful bids this round exceeded the quota available by 48%, higher than the 12-month average figure for this category of 43%.

Cat C - Also climbing upwards

Premiums for Cat C, for goods vehicles and buses, climbed this session by $912 (1.2%) to close at $83,801. The number of unsuccessful bids this round exceeded the available quota by 34%, far lower than the 12-month average for this category of 108%.

Cat E - Climbing a total of $7,640 this session

Premiums in Cat E, the open category, rose a total of $7,640 (5.6%) this session, after having climbed a total of $6,000 in the last session. The new rise brings the current premium for the category to $144,640. As with premiums for Category B, premiums for this category are now at a record high.

This increase brings current premiums for the category to 23.3% above the 12-month trailing average. The number of unsuccessful bids this round exceeded the available quota by 84%. The 12-month average for this figure for the category is now 87%.

Prevailing Quota Premium

The Prevailing Quota Premium is the amount to be paid for COE renewal and is computed from the moving average of the previous three-months of COE prices. Those looking to renew the COE on their cars will thus have to pay the following prices for the respective months.

If you're looking for a fuss-free option to renew your car's COE, Sgcarmart provides free COE renewal advice, which includes loan sourcing and all paperwork.

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✅ Interest Rate typically starts from 2.88% 
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